Capital Raising

Posted on 5 November 2011 by Paul

I converted my house building an additional house with its own services and deeds can I borrow money against it?


It may be possible to raise money against the new property, but the rate and type of loan will depend on numerous factors.

For a standard residential or Buy to Let mortgage you will need to be able to produce either an NHBC certificate, an architects certificate or benefit from a Zurich Building Guarantee.  You will also find that different Banks and Building Societies will not lend for the first 3 - 36 months following construction or if the property has not been occupied.

All lenders will want to know why you need to borrow the money and what you intend to do with the property?

I believe we can help you and that you would benefit from speaking to one of our independent mortgage advisers.  Please call 0344 346 3672 and tell the consultant the date and title of your question, they will then be able to advise you on your situation.


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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